Orkney Homes Trust Limited

	Page
Trustees' Report	1—3
Independent Examiner's Report	4
Statement of Financial Activities (including Income and Expenditure Account)	5
Balance Sheet	6—7
Notes to the Financial Statements	8—12

The trustees present their report and the financial statements for the year ended 31 March 2026.

Objectives and Activities

Aims and Objectives

The purpose and objects of the Trust are:

To relieve poverty principally among the poor residents of the Orkney Islands through:

(i) The provision of good quality housing for rent at affordable rents under secure conditions of tenancy;

(ii) The promotion of companies whose activities are directed towards the provision of paid employment to poor residents of the Orkney Islands or towards the provision of rented housing for the poor residents of the Orkney Islands or towards relief from need among the poor residents of the Orkney Islands, the acquisition and holding of shares, stocks, debentures and other interest in companies activities are also directed;

(iii) The provision of advice and assistance with regard to the establishment and operation or enterprises whose activities are directed towards the aims referred to in sub-paragraphs (i) and (ii);

(iv) The promotion and implementation of schemes of community benefit of a charitable nature within the Orkney Islands;

(v) The provision of training opportunities and

(vi) The operation of workspace projects.

Achievements and Performance

Main Achievements

During the year, the Trust continued renting out the property at 75 Quoybanks Crescent.

Financial Review

Financial Position

The balance in the Royal Bank of Scotland accounts at 31 March 2026 was £49,016.30 (2025: £44,768.16).

Reserves Policy

The charity has healthy cash reserves, stable financial management and no identified concerns regarding liquidity or financial sustainability. The trustees review this throughout the year.

Future Plans

The Trust intends to raise funds and seek donations to enable it to carry out the Trust objectives described above.

Structure, Governance and Management

Governing Document

Orkney Homes Trust Limited is a company limited by guarantee governed by its Memorandum and Articles of Association dated 29 May 1991. As of 25 May 2000, it is registered as a charity with The Office of the Scottish Charity Register.

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Orkney Homes Trust Limited

Trustees' Report (continued)

For The Year Ended 31 March 2026

Trustee Selection Methods

Any new appointments are at the recommendation of the board.

New trustees are advised of their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes and recent financial performance of the charity.

Organisational Structure

The board of trustees administers the charity. The board meets regularly. The day to day administration of the charity is carried out by Anne Whitton.

Reference and Administrative Details

Trustees

R Horrobin - Director

A R McGinn - Director

J F Murray - Director

J D Kemp - Director

D R Tullock - Director

W H Barbour - Director

M J Campbell - Director

Company Secretary

A E Whitton

Charity Number

SC030297

Company Number

SC132048

Registered Office

4 Gunn's Close

Kirkwall

Orkney

KW15 1DU

Independent Examiner

Doris Hutchison CA, ATT

Orcadia

1-3 East Road
Kirkwall
Orkney
KW15 1HZ

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Orkney Homes Trust Limited

Trustees' Report (continued)

For The Year Ended 31 March 2026

Small Company Rules

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The trustees' report was approved by the board of trustees and signed on its behalf by:

W H Barbour

Trustee

31 July 2026

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Orkney Homes Trust Limited

Independent Examiner's Report to the Trustees of Orkney Homes Trust Limited

For The Year Ended 31 March 2026

Independent Examiner's Report to the Trustees of Orkney Homes Trust Limited

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2026.

Responsibilities and Basis of Report

As the charity trustees of the Company (and also its directors for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the terms of the Charities and Trustee Investment (Scotland) Act 2005 and the Charities Accounts (Scotland) Regulations 2006 (as amended). The charity trustees consider that the audit requirement of Regulation 10(1) (a) to (c) of the 2006 Accounts Regulations does not apply. It is my responsibility to examine the accounts as required under section 44(1) (c) of the Act and to state whether particular matters have come to my attention.

My examination is carried out in accordance with Regulation 11 of the 2006 Accounts Regulations. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeks explanations from the trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently I do not express an audit opinion on the view given by the accounts.

Independent Examiner's Statement

Since the Charity has prepared its accounts on an accruals basis and is registered in Scotland your examiner must be a member of a body listed in Regulation 11(2) of the Charities Accounts (Scotland) Regulations 2006 (as amended). I confirm that I am qualified to undertake the examination because I am a member of , which is one of the listed bodies.

In the course of my examination, no matter has come to my attention

which gives me reasonable cause to believe that in any material respect the requirements:
- to keep accounting records in accordance with Section 44(1) (a) of the 2005 Act and Regulation 4 of the 2006 Accounts Regulations
- to prepare accounts which accord with the accounting records and comply with Regulation 8 of the 2006 Accounts Regulations

have not been met, or

to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Doris Hutchison CA, ATT

31 July 2026

1-3 East Road
Kirkwall
Orkney
KW15 1HZ

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Orkney Homes Trust Limited

Statement of Financial Activities (including Income and Expenditure Account)

For The Year Ended 31 March 2026

Statement of Financial Activities (including Income and Expenditure Account)

		2026	2025
		Unrestricted funds	Unrestricted funds
	Notes	£	£
INCOME AND ENDOWMENTS FROM:
Donations and legacies	3	-	35,000
Investments	4	4,252	3,912

		4,252	38,912

EXPENDITURE ON:
Raising funds	5	(1,283 )	(1,188 )

NET INCOME		2,969	37,724

Gains on revaluation of fixed assets		-	20,000

NET MOVEMENT IN FUNDS		2,969	57,724
RECONCILIATION OF FUNDS:
Total funds brought forward		219,198	161,474

TOTAL FUNDS CARRIED FORWARD	12	222,167	219,198

The notes on pages 8 to 12 form part of these financial statements.

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Orkney Homes Trust Limited

Balance Sheet

As At 31 March 2026

Balance Sheet

		2026	2025
		Unrestricted funds	Total funds
	Notes	£	£
FIXED ASSETS
Investment Properties	9	175,000	175,000

		175,000	175,000
CURRENT ASSETS
Debtors	10	406	411
Cash at bank and in hand		49,016	44,768

		49,422	45,179
Creditors: Amounts Falling Due Within One Year	11	(2,255 )	(981 )

NET CURRENT ASSETS (LIABILITIES)		47,167	44,198

TOTAL ASSETS LESS CURRENT LIABILITIES		222,167	219,198

NET ASSETS		222,167	219,198

FUNDS OF THE CHARITY
Unrestricted Funds:
Unrestricted Funds		134,700	131,731
Revaluation Reserve		87,467	87,467

		222,167	219,198


TOTAL FUNDS	12	222,167	219,198

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Orkney Homes Trust Limited

Balance Sheet (continued)

As At 31 March 2026

For the year ending 31 March 2026 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

On behalf of the board

W H Barbour

Trustee

31 July 2026

The notes on pages 8 to 12 form part of these financial statements.

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Orkney Homes Trust Limited

Notes to the Financial Statements

For The Year Ended 31 March 2026

Notes to the Financial Statements

1. General Information

Orkney Homes Trust Limited is a company limited by guarantee, incorporated in Scotland, registered number SC132048 and registered charity number SC030297 . The registered office is 4 Gunn's Close, Kirkwall, Orkney, KW15 1DU.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)", Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

The charitable company is a Public Benefit Entity as defined by FRS 102.

2.2. Fund Accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

2.3. Incoming Resources

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

2.4. Resources Expended

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

2.5. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings

25% on cost

2.6. Investment Properties

Investment properties are included in the balance sheet at their open market value.

Full valuations are made by independent professional qualified valuers every five years and in the intervening years, these valuations are updated by directors with the assistance of independent professional advice as required.

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Orkney Homes Trust Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

2.7. Cash and Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acquisition and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts.

2.8. Taxation

The Trust is exempt from corporation tax on its charitable activities. Donations and legacies to the Trust may attract taxation relief for the donor. The Trust is not registered for Value Added Tax and accordingly any such irrecoverable tax is included in the expenditure concerned.

3. Income from Donations and Legacies

	2026	2025
	Unrestricted	Unrestricted
	funds	funds
	£	£
Donated goods, facilities and services	-	35,000

4. Investment Income

	2026	2025
	Unrestricted	Unrestricted
	funds	funds
	£	£
Rents received from investment properties	4,252	3,912

5. Analysis of Expenditure

	2026
	Support costs (see note 6 )
	£
Raising funds	1,283

	2025
	Support costs (see note 6 )
	£
Raising funds	1,188

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Orkney Homes Trust Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

6. Support Costs

	2026	2025
	Raising funds	Raising funds
	£	£
Premises expenses	779	758
General administration	504	430

	1,283	1,188

7. Average Number of Employees

Average number of employees during the year was: NIL (2025: NIL)

8. Tangible Assets

	Fixtures & Fittings
	£
Cost
As at 1 April 2025	8,303

As at 31 March 2026	8,303

Depreciation
As at 1 April 2025	8,303

As at 31 March 2026	8,303

Net Book Value
As at 31 March 2026	-

As at 1 April 2025	-

9. Investment Property

	2026
	£
Fair Value
As at 1 April 2025 and 31 March 2026	175,000

If investment property had been accounted for under historical cost accounting rules, the amounts would be:

	2026	2025
	£	£
Cost	155,000	155,000

The investment property was valued by Billy Groundwater AssocRICS of Orkney Surveying Services on 23 June 2025 at fair

value.

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Orkney Homes Trust Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

10. Debtors

	2026	2025
	£	£
Due within one year
Other debtors	406	411

11. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Other creditors	2,255	981

12. Movement in Funds

	As at 1 April 2025	Income	Expenditure	As at 31 March 2026
	£	£	£	£
Unrestricted funds
Designated:
Hardship Fund	131,731	4,252	(1,283)	134,700
Revaluation Reserve	87,467	-	-	87,467


Total unrestricted funds	219,198	4,252	(1,283 )	222,167




Total funds	219,198	4,252	(1,283 )	222,167

	As at 1 April 2024	Income	Expenditure	Gains and losses	As at 31 March 2025
	£	£	£	£	£
Unrestricted funds
Designated:
Hardship Fund	94,007	38,912	(1,188)	-	131,731
Revaluation Reserve	67,467	-	-	20,000	87,467


Total unrestricted funds	161,474	38,912	(1,188 )	20,000	219,198




Total funds	161,474	38,912	(1,188 )	20,000	219,198

13. Transactions with Trustees

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Orkney Homes Trust Limited

Notes to the Financial Statements (continued)

For The Year Ended 31 March 2026

None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year.

No trustee expenses have been incurred.

14. Related Party Disclosures

There have been no related party transactions in the reporting period that require disclosure.

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